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JobKeeper and Workers Compensation Insurance
Whilst there are similarities between the states’ rules for reporting JobKeeper in workers compensation rateable remuneration, there are also some differences – please check your state’s guidelines for full details.
When you complete the declaration of actual wages for 2020 (or at the anniversary of the insurance premium), remember to separate out the JobKeeper top-up amounts from ordinary earnings. As a rule, JobKeeper top-up payments are not considered to be rateable remuneration. Wages earned for hours worked while receiving JobKeeper are generally considered to be ordinary hours and therefore rateable.
Insurers have adjusted their declaration forms to report JobKeeper. Be careful not to report JobKeeper twice in ordinary earnings and the top-up fields. There are different fields for rateable JobKeeper and non-rateable JobKeeper payments. Please read the fine print!
Check your insurer’s form and your state’s JobKeeper guidance on exactly how to report JobKeeper top-up so that you are not over-reporting wages and therefore inflating the premium.